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Ambient Lighting Market to Register $156.5 Billion Revenue in 2030, with Rising Adoption of Smart Lighting: P&S Intelligence

/EIN News/ -- Ambient Lighting Market Research Report: By Offering (Hardware [Lamps and Luminaires {Incandescent, Halogen, Fluorescent, LED}, Lighting Controls {Sensors, Switches and Dimmers, Relay Units}], Software and Service), Type (Suspended Lights, Recessed Lights, Track Lights, Strip Lights, Surface-Mounted Lights), End User (Residential, Hospitality and Retail, Healthcare, Industrial, Corporate, Automotive)

NEW YORK, July 01, 2020 (GLOBE NEWSWIRE) -- Owing to the rapid adoption of smart lights, the global ambient lighting market is expected to reach $156.5 billion in 2030, from $60.8 billion in 2019, at a 9.2% CAGR between 2020 and 2030, according to the market research study published by P&S Intelligence

As a result of the Industry 4.0 revolution, advent of the internet of things (IoT) technology, and need to save energy, the usage of light-emitting diodes (LED) lights is increasing. These factors have led to the introduction of smart lights, which are energy-efficient, offer improved functionality and aesthetics, and can be connected to the internet.

Unlike traditional lighting, smart lighting systems can be preprogrammed according to people’s illumination requirement and remotely controlled from any internet-connected device. The rising sales of smart LEDs are helping the ambient lighting market growth, as they allow people to control their color and brightness, as per the mood; moreover, such systems allow multiple bulbs to be controlled from one spot, via the mesh technology, which lets individual LED lights communicate with each other.

The ambient lighting market is currently witnessing the negative effects of the coronavirus situation, as the supply of lighting components and manufacturing of the final products have halted to a great extent. Moreover, due to a shortage of laborers, residential, industrial, and commercial infrastructure projects are witnessing a stagnation in progress, especially in China and India, which has reduced the demand for lighting solutions. Similarly, with a partial or complete ban on people stepping out for leisure purposes, the travel and tourism sector, which is a major consumer of ambient lighting solutions, is under recession.

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Ambient Lighting Market Segmentation Analysis

The hardware bifurcation, based on offering, held the larger ambient lighting market share during 2014–2019. Being the major component of ambient lighting solutions, luminaires and lamps, especially LED variants, witnessed a huge demand in the past, owing to the high focus on energy efficiency around the world.

In the next 10 years, the highest CAGR in the ambient lighting market would be experienced by the strip lights category, under the type segment. This would be a result of the quick adoption of such fixtures in the residential and automotive domains. Currently, automakers are focusing on increasing the sales, by enhancing the experience of drivers and passengers via the inclusion of ambient lighting, thereby driving the uptake of strip lights.

The residential category, on the basis of end user, is expected to dominate the ambient lighting market in the future, due to the declining purchase costs of LEDs and strong focus on energy efficiency. In addition, the residential construction sector is experiencing a boom, because of the demand for affordable housing, which is further helping raise the uptake of ambient lights and associated software.

Browse report overview with 108 tables and 71 figures spread through 152 pages and detailed TOC on " Ambient Lighting Market: Global Industry Analysis and Growth Forecast to 2030" at: https://www.psmarketresearch.com/market-analysis/ambient-lighting-market-report

In the past, Asia-Pacific (APAC) was the largest ambient lighting market, and it will keep witnessing the highest adoption of such solutions in the coming years. This is ascribed to the growing demand for ambient lighting for houses, primarily in South Korea, India, and China. With the population boom and disposable income rise, the uptake of such products is also increasing in commercial buildings and hospitals.

Market Players Launching Improved Products for Wider Customer Base

In order to expand their customer base, players in the ambient lighting market are introducing improved solutions, which:

  • Provide an upgrade to the existing lighting systems in SMEs
  • Offer subtle, diffused illumination, with high design flexibility
  • Transform a regular lamp into a smart lamp, controllable via Bluetooth
  • Allow lighting to be personalized and controlled via voice commands and smartphones
  • Come with ultrasonic sensing and passive-infrared technologies, which help in adjusting the brightness

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The biggest companies operating in the global ambient lighting market are General Electric Company, Signify N.V., Acuity Brands Inc., OSRAM Licht AG, Zumtobel Group AG, Häfele GmbH & Co. KG, Wipro Enterprises (P) Ltd., Samsung Electronics Co. Ltd., Hubbell Incorporated, and Cree Inc.

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Smart Lighting Market
The global smart lighting market is moderately competitive, with key players coming up with new intelligent and connected lighting solutions frequently.

https://www.psmarketresearch.com/market-analysis/smart-lighting-market

LED Lighting Market

The global LED lighting market is highly competitive in nature, primarily due to the presence of a large number of OEMs in emerging economies, such as China, India, Indonesia, and Brazil.

https://www.psmarketresearch.com/market-analysis/led-lighting-market

About P&S Intelligence

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